JB Hi-Fi working on strategy for NZ business after write-down on poor 2017 performance

Mon, 14 Aug 2017

By Sophie Boot Aug. 14 (BusinessDesk) - JB Hi-Fi's management is finalising a performance strategy for its New Zealand discount electronics chain after it turned to a loss as sales and margins dropped in the latest financial year. The New Zealand division posted a $2.7 million loss on an earnings before interest and tax basis in the 12 months ended June 30, from a $1 million ebit profit in 2016, the Melbourne-based company said in a statement to the ASX, where its stock is listed. JB Hi-Fi has taken a A$15.8 million non-cash impairment...

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